MINISO Group Holding Limited, the renowned global lifestyle product chain, recently reported a 24.1% growth in revenue during the second quarter of 2024.
This milestone marks the first time the company has surpassed the $555.3 million revenue mark. This increase reflects the success of the company’s strategy, based on offering affordable and appealing products, backed by intellectual property designs that capture consumer attention.
What does MINISO mean?
MINISO is a brand that has conquered the market of kawaii aesthetic fans with its wide variety of affordable products. The brand’s name comes from a combination of two syllables from Japanese writing that form the phrase ‘Meisou,’ which translates to “beautiful and simple thing.”
This term reflects the brand’s philosophy, aiming to offer products with attractive, minimalist designs that are both functional and practical for everyday use.
The brand’s success is driven by its innovative business model, combining design, quality, and low prices, as well as its omnichannel strategy.
How did MINISO start?
The brand was founded in 2013 by Chinese entrepreneur Ye Guo Fu and Japanese designer Miyake Junya. The original idea was to create a brand offering designer products at affordable prices, inspired by the “fast fashion” concept applied to household and consumer goods.
The first MINISO store opened in Guangzhou, China, and rapidly expanded throughout the country. By 2015, the company began its international expansion, entering countries like Japan, South Korea, Singapore, and Thailand. In 2016, MINISO arrived in Mexico, where it has been highly successful, opening more than 200 stores nationwide within just a few years.
Who owns MINISO?
MINISO is a privately held company, with its primary shareholders being its founders, Ye Guo Fu and Miyake Junya. In some countries, such as Mexico, MINISO operates through franchises or joint ventures with local partners.
In Mexico, Grupo Sanborns, owned by businessman Carlos Slim Helú, made a strategic investment in 2019, acquiring 33.27% of MINISO Mexico’s capital. This partnership has helped strengthen MINISO’s presence in the Mexican market and accelerate its expansion.
What kind of company is MINISO?
The brand defines itself as a lifestyle product design and retail company.
The company focuses on offering a wide variety of licensed products, including characters from Disney, Snoopy, Minions, Hello Kitty, Kuromi, Stitch, among others. These products range from household and consumer goods to cosmetics, stationery, toys, kitchenware, décor, travel accessories, bags, and luggage.
MINISO is known for constantly updating its catalog, launching new products weekly to maintain consumer interest.
Where is the largest MINISO?
The largest MINISO store in the world is located in Guangzhou, China, covering over 5,000 square meters.
It is a Chinese company, founded in Guangzhou in 2013. Although one of its founders is Japanese and the company is inspired by minimalist Japanese design, its headquarters and most of its operations are based in China.
In which countries is MINISO present?
MINISO operates in more than 100 countries worldwide, including China, Japan, South Korea, Singapore, Thailand, Mexico, the United States, Canada, Australia, Spain, Italy, France, Germany, the United Kingdom, among others. The company continues to expand into new markets, seeking to establish itself as a global reference in the lifestyle products sector.
Is MINISO a Japanese or Chinese company?
MINISO is a Chinese company, although one of its founders is Japanese, and the brand is inspired by minimalist Japanese design. The company’s headquarters, along with the majority of its operations and production, are located in China.
ALSO READ. Monsters Netflix: How much money did the Menendez brothers inherit?
MINISO Data and Statistics
- Total revenue for Q2 2024: $555.3 million, a 24.1% year-on-year growth.
- Gross profit: $244.0 million, up 36.9% from the same period in 2023.
- Gross margin: 43.9%, compared to 39.8% in Q2 2023, a record for the company.
- Total number of stores: 6,868 as of June 30, 2024.
- Net new store openings in H1 2024: 455 new stores, 189 opened in mainland China and 266 in international markets.
- Stores in mainland China: 4,115, with 189 new openings in H1 2024.
- Stores in international markets: 2,753, with a record 266 new openings in H1 2024.
- Number of TOP TOY stores: 195, with 47 new openings in H1 2024.
- MINISO continues to focus on international expansion, rapidly opening stores in key markets.
- The brand aims to open between 900 and 1,100 net new stores annually from 2024 to 2028, with a compound annual growth rate (CAGR) in revenue of over 20% during this period.
